Synopsis: Security: Security concepts: Risk:

Entrepreneurs take risks and new technologies appear, leading to the creation of new enterprises. On the contrary, during the maturity phase--for example,

and robust evidence can enhance the chances of policy success by eliminating the risks and costs of trial and error.

It included several action lines that can broadly be divided into four categories relevant for SMES'innovation capacities. 1. Those aimed at improving access to funding for SMES undertaking research (Research for SMES and Risk Sharing

and a perception that innovation involved excessive economic risks. A 2009 Canadian survey37 found that 57%of world-first innovators judged a lack of skilled personnel to be an impediment for their activity.

Indeed, the vast majority of SMES do not take the risk to carry out in-house research as the process of generating new technologies is becoming more and more complex.

IDEA as the manager of the initiative, the Capital Investment and Risk management company of Andalusia INVERCARIA,

The second sub-programme is related to risk finance (€2. 8 billion. It will consist in loans,

and the relative risks for policy. It thus focuses on helping entrepreneurs identify their knowledge-based strengths at the regional level

Risks of policy induced specialisation While the central tenet of the concept of smart specialisation was accepted quickly by the EU policy community,

The aerospace sector experienced a sustainable growth over two decades stemming from a regional strategy based on risk sharing funding of original equipment manufacturer (OEM) programs and the commitment to a policy of fine

This balance not only relates to risk; GRDC also strives to balance its research portfolio in terms of short, medium,

and ii) The high risk of lock ins due to the inertia of the chemical sectors innovation system:

compliance Geographical location (proximity to the EU markets and largest domestic markets) High Innovation Capacity Flexible production with competitive costs and risk sharing value chain Sophisticated

and alleviating concerns about the risk of interaction. OECD 2013 99 Buy in from industry: Research organisations and government bodies can struggle to connect

and any risk of trying to excel at everything. Impact of data and diagnostic tools: Lower Austria made positive learning experiences with the establishment of these tools among others,

In addition, few financing channels with risk-taking capabilities exist. The overall innovation service network and innovation infrastructure remain obscure.

i) Risk of loss of international market position of some Basque sectors; ii) Risk of non-differentiation in the new scientific and technological niches;

and iii) Risk that the continuity of the economic crisis may pose to the economic sustainability of the Basque Innovation System.

Lessons learned and conclusions for political action During the last decade the government of the Basque Country (Euskadi) has learned the importance of prioritisation and specialisation in sectoral innovation policies.

There is a widespread understanding amongst policy makers of the bottlenecks and risks of top-down government induced specialisation.

It is essential to operationalize the process of assessing cluster potential to reduce risks in policy implementation and in the practice of smart specialisation.

and effectiveness, there is an important risk of government failure: hence it is crucial that smart specialisation strategies develop into outcome-oriented policies and that, accordingly,

and what co-funding/risk-sharing scheme will be in place on the regional level? Which department (s is/are in charge of innovation policies and budgets?

The importance of entrepreneurial skills, such as innovation and risk taking should not be overlooked as essential ingredients to SME success. Skills development

their low risk and receptivity were the essential features facilitating them to be innovative therefore,

and take risks. The finding on risk-taking was confirmed also by a study conducted among American SMES Blumentritt (2004

showing that the most innovative firms were competitively aggressive and willing to take on greater degrees of risk.

According to Massa and Testa (2004), benchmarking enabled a company to compare its practices and performances with others as well as to acquire external explicit and tacit knowledge,

Manage the risk. He highlighted that strategy should be varied sufficiently to allow for organizational agility and flexibility.

While many people fear the risk of illegal copies in this case as well, MIT Press has doubled apparently its sales of hard copies

Depending on their risk adversity, they will innovate and exploit networks information differently. 2. Industrial co-operation:

risk adversity may impede the innovation process. Following two types of behaviour are usually applicable to managers (OCDE, 1993.

and consider that innovation represents a large financial risk. So they only innovate under the pressure of their environment.

innovativeness, proactiveness and risk-taking create the factors closely tied to an entrepreneurial firm 5, 10,11.

Through this methodology, 3m identifies both risks and opportunities for improvement at all stages in the innovation process.

The delay between a new technology and the development of social and ethical decisions about its use or application can increase market risk for the developers of the technology.

Risk-taking propensity is expected to be crucial as well as innovation by definition requires an investment with an uncertain outcome.

Risks in using a likert scale are a. The analysis concludes that innovation significantly depends on the position of firms in the value chain.

To overcome these risks, indicators were tested thoroughly on validity and reliability 5 Regression analysis: innovation level explains a growth in number of buyers (a=0. 001, r2=0. 106, ß=0. 428.

and reduces risks. The aggregate of all innovations leads to a highly resilient growth sector,

age, willingness to take risks, gender, no other position, worked in craft firm, primary school unfinished, primary school finished, secondary not complete, vocational.

Willingness to take risks is not a significant indicator, as all entrepreneurs are at least moderately willing to take risks.

Some very innovative firm consider themselves to be moderately risk taking, as they first study the market in order to reduce their risk.

Respondent#25, a micro-scale subcontractor, illustrates that willingness to take risk has enabled his firm to survive

when competitors went bankrupt: I have asked every shops to accept samples from me note: they only pay after selling.

especially exporters, respond to this risk by quickly designing new products causing a speeding up of innovation processes.

The highest risk is that they just sell the raw material. Therefore, this subcontractor always gets priority

For advanced driver assistance systems, for instance, the liability risks may be highly complex the term‘defective product'is used in the EU product liability directive not only in a technical sense

in order to lower the risk of collision by continuously monitoring driver behaviour and driving conditions and,

Following analysis of warning strategies to determine an optimal balance between the level of support and the risks of distraction,

60 7 the implementation risks of the RDI strategy...62 bibliography, the most important definitions, abbreviations...

innovative attitude is weak (including the intellectual property and risk tolerance consciousness) The (public, governmental) institutional structure and regulatory environment supporting RDI is not efficient (including the system of funding programmes

and research areas within the national RDI system which go beyond the framework of innovation system building with regard to RDI risk-taking and proactivity.

and manage the system risks resulting from interdisciplinarity, including the modelling and elaboration of profitable commercialization.

FTEVAL (2003) the implementation risks of the RDI strategy 7 64 7 the implementation risks of the RDI strategy The implementation risks of the RDI strategy and their management Table 12

According to our current knowledge RISK SUGGESTED METHOD for risk management The public R&d funding is not enough to achieve the objectives set;

One of the areas currently most at risk is digital Trade policies that lead to smaller firm size in an economy hurt productivity and income growth.

Risk of errors and inefficiencies increases when organisations are forced to run paper and computer systems in parallel. 8,

and computer systems that introduce new patient risks, staff frustration, and outcomes below expectation. The focus must shift from automation of clinical work to innovation;

and their risks in the market are much higher generally, than established companies, support from the private

very high risk with low chances of success, i e. unlikely to be funded by VC; may lead to little or nothing,

as they see innovation as high risk. Robotdalen in Sweden does this kind of new user SME support.

The cultural capital, of risk acceptance, becomes even more important at this stage, as the growth in human capital expands the workforce, perhaps many times, yet the level of risk due to the need for more funding capital,

and the uncertainty of market success, is perhaps greater than during the two earlier stages,

But their capability for taking risk is highly variable. Moreover, these organizations face political scrutiny, particularly in Europe and the USA.

It is only recently that they have entered finance for later stage funding of medium high risk.

The views of some, especially in the USA, are that these risks of inefficiencies due to the threats of litigation are balanced by the importance of recognisable incentives for innovators.

and less threatened by commercial risks of litigation in the EU than in the USA.

However, each has specific issues of financial and nonfinancial costs and benefits, suitability, levels of cooperation, problems, risks and feasibility (Rayna and Striukova, 2010.

Note that there is also a risk of the patent pool being declared illegal, if antitrust authorities determine that nonessential patents are in this pool

with its acceptance of risk in forming or joining a new start-up concern, as the normally accepted mental model for a successful career.

and qualified that risks are worth taking if eventually the result is ownership or part ownership in a successful venture.

Thus the culture in Europe is very much that risk taking is generally to be avoided. Risk and entrepreneurship Government policy could help in shaping the culture, specifically the attitudes to failure,

in terms of the laws around bankruptcy but also in terms of not denying support for a new venture when a previous one has failed.

and acceptance and tolerance of risks of innovation. Why are these three attitudes likely to be essential drivers of innovation?

Third, exchanging the safety of today's profits for the risk of innovative development of tomorrow with its unknown profit stream seems to be higher risk than staying still

Thus a company must instil a tolerance of risk (Fiegenbaum and Thomas, 1988; Kuczmarski, 1996.

But perhaps for the start-up, the most important, almost subconscious, cultural factor is the attitude to risk,

which, by its nature, is short term and with a preference for lower risk. This argument deserves some attention,

since it is generally true that the public sector has more ability to sustain higher risks and for a longer horizon,

because perceived risk was too high for VCS, according to Colin Angle (irobot, chairman and CEO).

The art of welcoming risk, Journal of Consumer Marketing, 13 (5), 7-11 Kulkki, S. 2012), Getting competitive, Pan European Networks:

First the entrepreneurial creativity and risk was provided by Scandinavians, Niklas Zennström and Janus Friis. The key technical personnel were software engineers from Estonia,

It was a risk-assessment exercise.""In all CDT raised over $250 m from various sources

market and profitability standards discouraged risk-taking and data driven research replaced intuitive visions as the main decision making tool.

a low-risk venture and a secure exist strategy. This does not match innovative robotics,

It also highlights the dependencies and the critical path for production and the potential operational risks.

There is a risk that these investments stem from political priorities, rather than from a real discovery process

A potential risk of basing priority decisions mainly on future potential is that regional and national policy makers might opt for priorities that are not backed up by local capabilities.

and other stakeholders when taking sensible risks and trying new things. Recommendation 10 Research area Encourage research on the implementation process of ICT-ELI,

Research reveals that organisational risk aversion, conservative cultures and excessively hierarchical arrangements constitute key barriers for scaling up ICT-ELI (Kampylis, Law, et al.,

and risk taking (73.3%).%)Changing practices (i e. developing a culture of innovation) is a long and complex process that requires, among other conditions,

and other stakeholders when taking sensible risks and trying new things. 120 73.3 32. Developing long-term strategies to advance the capacity of school leaders to adopt

and other stakeholders when taking sensible risks and trying new things, while for policy/decision makers and others it is:

and other stakeholders when taking sensible risks and trying new things. 73.3 120 21. Encouraging research on the implementation process of ICT-ELI, focusing on the possible learning gains. 72.5 131 As can be seen from the table above,

and other stakeholders when taking sensible risks and trying new things. Promoting diversity in ICT-ELI by funding a number of pilots in different contexts and with diverse implementation strategies.

and other stakeholders when taking sensible risks and trying new things..8. 8 5. 0 5. 8 14.2 24.2 49 49.2 73.3 Developing long-term strategies to develop the capacity of school leaders to adopt

and other stakeholders when taking sensible risks and trying new things. 6. 12 52 6. 19 27 5. 67 24 5. 88 17

since there is a risk of losing compatibility with historical data. However, if the definitions in the standards are not clear,

SMES face a competitive disadvantage compared to larger companies in the participation in public procurement due to the difficult application procedures, a lack of awareness and the greater risk of investment in SMES.

The EIF, a first link in the risk-sharing chain, shares some of the risk with financial intermediaries in the participating countries.

A high risk of lending to SMES can emerge from the uncertainty of their investments in certain knowledge-related activities,

The EIF reduces its local partner's (financial intermediary) exposure to risk, in order to stimulate the provision of debt finance to SMES at local level.

environment and risk prevention and access to transport and telecommunications services of general economic interest. http://ec. europa. eu/regional policy/thefunds/regional/index en. cfm#http

Smart specialisation is based on the premise that spreading investment too thinly across several frontier technology fields risks limiting the impact in any one area. 5. 1. 2 Potential Regional Benefits Developing

The Cignifi business model is founded on the idea that Mobile phone usage is not random it is highly predictive of an individual consumer's lifestyle and risk.

Such a collaborative early-warning and earlyaction system shows how data sharing could be considered a business risk mitigation strategy for operators in emerging markets.

To mitigate the potential risks, all stakeholders must see tangible benefits from such data sharing. These stakeholders include not just the public and private sectors

Hence, a balanced risk-based approach may be required in the context of what is under discussion here,

In return, data users would be permitted to reuse personal data for novel purposes where a privacy assessment indicates minimal privacy risks.

. 2011), Out of sight out of Mind-How Our Mobile Social network Changes during Migration. 2011 IEEE Third Int'l Conference on Privacy, Security, Risk and Trust and 2011 IEEE Third Int

Rewards and Risks of Big data (B. Bilbao-Osorio, S. Dutta and B. Lanvin, Eds..References 220 Wesolowski, A. and Eagle, N. 2010), Parameterizing the Dynamics of Slums.

and understand risks as rapidly as new markets emerged. The opportunity for digital technologies to create new businesses is real,

to do that Resistance to new approaches this is the way we've always done it Digital Transformation threatens current power structures I will lose influence in my organization Internal politics it doesn't have the right political support Risk aversion it's not worth the risk

Another said that the pace of digital transformation demanded such speed that it is at risk of diluting employee morale.

and social exclusion-at least 20 million fewer people in or at risk of poverty and social exclusion These goals are seen as strongly interrelated

) 10toe 33.6 toe (2012) Early school leaving in%<11.3%17.3%(2013) Tertiary education in%26.7%22 8%(2013) Reduction of population at risk of poverty or social

and the sustainability and adequacy of Field of action 1 Field of action 4 Page 29 of 170 Issue Rationale Field of Action to Support the pension system is at medium risk

employment information availability, enhance social program efficiency to reduce the risk of poverty Field of action 1 Field of action 2 Field of action 4 Implementation Of The Precautionary Programme

These reactive and proactive measures can include policies, concepts, standards, security guides, risk management, training and awareness activities,

In this respect, in the EU we will need to create a European forum for discussion between the national government to integrate risk management

we will consider implementing processes of security risk management in the public administration. At the same time, we will aim at enhancing consultations with similar bodies in the EU and U s,

and their active involvement when they return home. 2. 2. 3 National context Cyber security Approach in Romania Risks of cyber incidents occurrence are caused by human or procedural reasons.

vulnerabilities and cyber security risks and promotes Romania's interests, values and national objectives in cyberspace.

will work to strengthen expertise in cyber risk, by fostering synergies between different action plans on cyber security (military and civil, public-private, government, non-government;

Operative Council for Cyber security (COSC) Strengthening the partnership between public & private sector (Operational) Developing cooperation between the public and private sectors, including by fostering the exchange of information on threats, vulnerabilities, risks,

Operative Council for Cyber security (COSC) Developing national capacities for risk management in cyber security and cyber incident response under a national program Construction of Data base with relevant information (Operational) Consolidating, at the level of the competent

and minimizing risks related to the use of cyberspace Responsible: Operative Council for Cyber security (COSC) Boost the Research & development capabilities in cyber security (Enabler) Fostering national R & D capabilities and innovation in cyber security Responsible:

vulnerabilities and risks of using cyberspace Responsible: Operative Council for Cyber security (COSC) Development of educational programs (Enabler) Educational programs in the forms of compulsory education on the safe use of the Internet and computing equipment Responsible:

Understanding and managing risks related to the adoption and integration of cloud computing capabilities into public bodies is a key challenge.

and some cases to rethink, their processes for assessing risk and making informed decisions related to this new service delivering model.

Enabling rapid and cost-effective procurement of information systems/services for all state agencies Eliminating the duplication of effort Reducing risk management costs Cloud computing Definition Cloud computing relies on sharing of resources to achieve coherence and economies of scale

in the absence of financial resources for advertising and communication, have higher risks of becoming insolvent o Enabling the SME's to:

Personal lifestyle and environmental impact factors are the most significant risk factors influencing health status. ICT ehealth Definition ehealth is a relatively recent term for healthcare practice supported by electronic processes and communication.

decreasing the risk of fraud and preventing inappropriate medication (electronic prescription). Responsible: Ministry of Health with support from Ministry for Information Society Effective management of information generated by the IT system Analysis of a significant volume of data generated in the healthcare informatics systems

National Indicators pertaining to einclusion In 201110,40. 3%of the Romanian population was facing the risk poverty

%)To a total of 8. 63 million people at risk of poverty or social exclusion in 2011,4. 74 million people were facing the risk of poverty.%

Ministry for Information Society The main informatics risks and threats can be classified based on several criteria.

So, a first criterion highlights the risks and the threats related to the following: Data integrity intended alteration of the stored data

All the risks and threats mentioned above represent critical situations which can affect in a first instance citizen trust in the utilization of the electronic commerce systems.

along with a list of risks and mitigation actions Evaluate This phase will assess the effectiveness of an initiative and its efficiency during and after implementation.

and may also contain conscious risk-taking. Participants of the Local Research Priorisation Working groups: representatives of knowledge bases:

and there were instances where conscious entrepreneurial risk assumption was applied. 4. 3. 2. National Priorities Within the national research priorities,

conscious risk-taking or the technologies existing at the local level (e g. materials science, nanotechnology, biotechnology,

and conscious risk-taking prevail therein (for example, can the given smart technology be found in that county,

Owing to the risk potential risk factors of the RDI activities, one of the most typical form in the context is the nonrepayable grant.

Because of the high risk, ideas at an early stage which can be financed hardly on a market basis,

which tolerate implementation risks: typically, these are nonrefundable direct financial grants. The necessary support instruments must be provided to the start-up and spin-off undertakings,

Through public-private partnerships, the procurement process based on shared risks and benefits facilitates the development of new technologies,

opportunities, value is given to creativity, knowledge and risk-taking, the domestic business opportunities are given a value,

The players of the policy decision-makers who are willing to take risks are need in of a tool

as well as averting the risks of misuses that inevitably accompany any step of human evolution. I am thankful to the authors for this startling journey into a nascent field

For example, even the European Smart Cities project risks being dominated by US companies such as IBM, Google and Ciscos, partly because of the lack of alternatives.

A major risk for the Future Internet is the realisation of the‘Big brother'scenario, with big industrial players (mainly US-based) reinforcing their dominant position by implementing platform lock in strategies,

and by striking strategic alliances between the largest Over-The-Top (OTT) iand largest network operators, there is a risk that the innovation ecosystem will become more closed,

We found that the Authority actively monitors its exposure to risks related to technology approaching end-of-life.

This will enable engagement with stakeholders regarding risk cost, prioritisation and funding. 1 ttp://www. nhsbsa. nhsh. uk/Prescriptionservices/809. aspx 2 The Mcdonnell douglas hardware

in order to provide further assurance that risks arising from the move could be mitigated. The information governance arrangements are thorough and in line with NHS policy.

However, the IT staff we spoke to are unaware of the arrangements and accreditations to deal with the risks of cyber threat, fraud and other security threats. 6 Part One NHS Prescription Services:

or deliver a service in a different way. 1. 2 Public services that rely on legacy systems face a number of risks.

the government's stated preference is to extend the lives of such systems rather than face the risks and costs of replacing them.

service performance over time, with associated costs and risks; and an enterprise analysis8 measuring how mature the organisation is in managing,

and to address impending risks relating to technology approaching end-of-life. 2. 8 To meet the capacity demands,

Whilst this remains the case, the Authority is unlikely to be allowed to invest in the electronic submissions enhancements systems that could combat the risk of such frauds.

and address impending risks relating to technology approaching end-of-life. The Authority then took a sensible approach towards implementation with a feasibility study before moving to a controlled pilot

The legacy system is hindering compliance with NHS information standards 4. 9 The Authority has comprehensive corporate governance arrangements and a corporate risk register,

which describes strategic risks, their probability, potential impact and the agreed mitigations. A prescription pricing service programme board which includes representatives from the business

and the IT group meet monthly to discuss service issues, enhancements and risks, and ICT is discussed during these meetings. 4. 10 Risks discussed at the service area programme board feed into the corporate risk register.

An'end-of-life technology'risk register is maintained also that logs the risk and impact of a technology component that is approaching

or is already end-oflife. This ensures that the Authority is monitoring its exposure to risks related to technology that is approaching end-of-life in current systems. 3 4 NHS Prescription Services:

the impact of legacy ICT Part Four 23 4. 11 The Authority has adopted an enterprise architecture approach to ensure alignment of IT and business services,

in order to provide further assurance that risks arising from the move can be mitigated. 4. 26 The information governance arrangements are thorough and in line with the NHS policies,

However, the IT staff we spoke to were unaware of the arrangements and accreditations to deal with the risks of cyber threat and fraud and other security threats.

the impact of legacy ICT Part Five 31 Figure 10 Lessons from the prescription pricing service Lessons Commentary Senior management ownership of IT risk leads to proactive decisions

and address risks created by legacy systems The legacy issues and risks identified in the CIP business case that led to the decision to implement CIP still exist.

The inability to scale the system to meet demand; the lack of flexibility to adapt to changes of business rules;

and prioritise changes in business requirements and legacy ICT capabilities, risks and issues, opportunities and threats.

Risk management Risk management processes ensure that the business risk appetite is documented and legacy ICT and information assurance related risks are identified

and regularly reviewed, documented and managed at a sufficiently senior level, with mitigating arrangements agreed.

Key stakeholders have clear visibility of the level of risk exposure. Implementation Lifecycle management The system is readily adaptable to changing business needs

with risks and issues managed effectively. Management of supplier services Outsourced services are managed actively and regularly market tested to ensure value for money,

External security risk assessments are carried out regularly. No bespoke security systems or processes are required. Technology Applications The legacy ICT system fully integrates with the wider ICT environment using standard protocols or common application programme interfaces.

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